5 things to know before the stock market opens on Wednesday

Happy Wednesday. Watch for the latest consumer inflation data to drop at 8:30 a.m. ET. If Wall Street’s consensus forecast comes true, it would be the first time since 2023 that annual inflation would exceed 4%.

Stock futures are lower this morning following a mixed day on Wall Street.

Here are five important things investors need to know to start their trading day.

Stock futures are falling before the bell after President Donald Trump said in a Truth Social post this morning that Iran “took too long to negotiate a deal” and “will have to pay a price.” His comments came after the US launched a so-called “self-defense strike” against Iran yesterday.

Here’s what you need to know:

President Trump on Tuesday accused Iran of shooting down a helicopter over the Strait of Hormuz and said the United States “must respond to this attack.” Iran has not directly claimed responsibility for the downing of the helicopter, but has reportedly vowed to retaliate against the US attack. The attacks early Wednesday morning targeted several Gulf states. Oil prices soared after Trump’s latest post, which diverged from other recent comments suggesting the conflict may be nearing an end. Oil prices fell yesterday after US Energy Secretary Chris Wright said there was a “very meaningful” increase in shipping traffic through the Strait of Hormuz. futures tied to Dow Jones Industrial Average It was more than 400 points lower in pre-market trading. Follow live market updates here.

The Trump family was entitled to about $500 million in cryptocurrency transactions last year. But as CNBC’s Matt Peterson reports, investors didn’t fare so well.

The stock price of one of the companies involved in the deal, then called Alt5 Sigma, plummeted more than 90% just before the deal was announced. A rebrand to AI Financial Corp. has also had no effect, and the company has warned investors that it may not be able to continue operating. The stock could be delisted from the Nasdaq if it does not move out of penny stock territory.

Watchdogs and former regulators say the Securities and Exchange Commission should investigate the company’s disclosures and ties to the Trump family. The White House said there was no conflict of interest involving the family in the deal.

SpaceX’s IPO is unique in many ways. First of all, rather than offering a range and price based on demand, it offers take-it-or-leave-it pricing. The rocket startup also aims to allocate 30% of the shares sold to retail investors, which is much higher than the typical range of 5% to 10% for IPOs.

Officials told CNBC that SpaceX will stop accepting orders starting today. This will give Elon Musk’s company more time to allocate shares tomorrow ahead of Friday’s debut.

Meanwhile, sources told CNBC that more than 100 current and former SpaceX employees have banded together to take control of their newfound wealth after the IPO. The group has created a new low-fee service in collaboration with Chicago-based investment advisor Coreo.

Anthropic announced its latest artificial intelligence model yesterday. This comes two months after it privately rolled out the Mythos model amid concerns that its advanced cybersecurity features could cause harm if it fell into the wrong hands.

Anthropic said Claude Fable 5 is just as powerful as Mythos, but with new safeguards that can block responses in high-risk areas such as cybersecurity and biology. This model will be available to enterprise customers and paid users.

As CNBC’s Ashley Capoot points out, Anthropic has achieved its “ultimate goal” of deploying the Mythos class of models at scale. The announcement also helps build buzz among investors ahead of an IPO, which could take place as early as this year.

Kalsi is trying to crack down on insider trading. The prediction market platform announced yesterday that it will begin requesting trader employment information in certain cases and begin strengthening its whistleblower capabilities amid increased scrutiny of potential insider trading in prediction markets.

Calsi will now provide a “risk score” for markets that are susceptible to manipulation or insider trading. If the market score meets a certain level, traders must confirm their employment.

About Kalsi: The company told CNBC that trading volume exceeded $1 billion within a week of launching perpetual futures trading. CEO Tarek Mansour told CNBC’s “Fast Money” yesterday that the results of this rollout are “incredible.”

FIFA President Gianni Infantino spoke with CNBC’s Sara Eisen ahead of this week’s World Cup. Despite consumer concerns about ticket prices, Infantino said demand has never been this high.

—CNBC’s April Roach, Kevin Breuninger, Spencer Kimball, Ananya Chetia, Sean Conlon, Matt Peterson, Ari Levy, Leslie Picker, Robert Frank, Ashley Capoot and Davis Giangiulio contributed to this report.

CJ Haddad helped produce this newsletter. Josephine Rozzelle edited this version.

Disclosure: CNBC and Kalsi have a commercial relationship that includes customer acquisition and minority ownership.